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Visual comparison of the main macroeconomic indicators for the high-income OECD countries with area biplot method

B. Baris Alkan, Cemal Atakan, Afsin Sahin

Abstract


The recent global economic and financial crisis has caused a differentiation in main macroeconomic variables among the OECD countries. The high-income OECD countries have been affected from the economic crisis more relative to the high-income non-OECD countries. From this basic observation, it is found meaningful to analyze the main macroeconomic indicators of the high-income OECD countries for the period from 1990 to 2007 by two-dimensional area biplot. This paper investigates consistent correlations based on the economic theory among the main macroeconomic indicators, compares the countries within several clusters, and extracts policy conclusions from the results.

Keywords


Area biplot, Clustering, Economic indicators.

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